ACV Auctions (NASDAQ:ACVA) CAO Sells $15,470.00 in Stock

ACV Auctions Inc. (NASDAQ:ACVA) CAO Andrew Peer sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $8.84, for a total value of $15,470.00. Following the completion of the sale, the chief accounting officer owned 54,488 shares of the company’s stock, valued at $481,673.92. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Peer also recently made the following trade(s):

• On Monday, September 15th, Andrew Peer sold 1,750 shares of ACV Auctions stock. The stock was sold at an average price of $10.11, for a total value of $17,692.50.

ACV Auctions Stock Performance

ACVA opened at $8.57 on Friday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -17.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.56 and a quick ratio of 1.56. ACV Auctions Inc. has a 1-year low of $8.33 and a 1-year high of $23.46. The business has a 50 day moving average price of $10.53 and a two-hundred day moving average price of $13.72.

Institutional Trading of ACV Auctions

Several large investors have recently added to or reduced their stakes in the company. Swedbank AB raised its stake in ACV Auctions by 50.0% during the 3rd quarter. Swedbank AB now owns 1,500,000 shares of the company’s stock valued at $14,865,000 after purchasing an additional 500,000 shares during the period. True North Advisors LLC raised its holdings in shares of ACV Auctions by 33.1% during the third quarter. True North Advisors LLC now owns 92,270 shares of the company’s stock worth $914,000 after acquiring an additional 22,969 shares in the last quarter. Riverbridge Partners LLC boosted its position in ACV Auctions by 18.6% during the third quarter. Riverbridge Partners LLC now owns 3,567,434 shares of the company’s stock valued at $35,353,000 after purchasing an additional 560,697 shares during the last quarter. Brighton Jones LLC grew its stake in ACV Auctions by 96.8% in the third quarter. Brighton Jones LLC now owns 80,103 shares of the company’s stock valued at $794,000 after purchasing an additional 39,400 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in ACV Auctions by 0.8% in the third quarter. Congress Asset Management Co. now owns 380,038 shares of the company’s stock valued at $3,766,000 after purchasing an additional 2,975 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACVA has been the topic of several research reports. The Goldman Sachs Group dropped their price target on ACV Auctions from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. JMP Securities dropped their price target on ACV Auctions from $20.00 to $18.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 12th. Bank of America dropped their price target on ACV Auctions from $20.00 to $16.50 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Stephens dropped their price target on ACV Auctions from $16.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. Finally, Needham & Company LLC dropped their price target on ACV Auctions from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.36.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.